BTCS (NASDAQ:BTCS) Posts Earnings Results

BTCS (NASDAQ:BTCS) released its quarterly earnings results on Thursday. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $1.09, FiscalAI reports. BTCS had a negative return on equity of 14.40% and a negative net margin of 746.29%. The business had revenue of $4.09 million during the quarter, compared to the consensus estimate of $5.50 million.

BTCS Stock Performance

Shares of NASDAQ:BTCS traded down $0.05 during mid-day trading on Thursday, reaching $0.89. 289,480 shares of the company traded hands, compared to its average volume of 1,096,374. The company’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.45. The firm has a market cap of $46.91 million, a PE ratio of -0.27 and a beta of 3.32. BTCS has a 52 week low of $0.83 and a 52 week high of $3.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.06 and a quick ratio of 2.06.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of BTCS from a “hold (c)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BTCS has a consensus rating of “Hold” and a consensus target price of $5.00.

BTCS Company Profile

BTCS Inc. (NASDAQ: BTCS) is a blockchain technology company focused primarily on the Ethereum ecosystem. The company seeks to build and operate blockchain infrastructure that supports network security, transaction validation and participation in decentralized networks. BTCS’s activities include operating Ethereum validator nodes and pursuing blockchain-related infrastructure and staking opportunities. Through these operations, the company participates in the proof-of-stake process that helps secure and maintain supported blockchain networks.